8-K 1 lbu04c02_10501.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: January 18, 2005 (Date of earliest event reported) Commission File No.: 333-111598-02 Lehman Brothers - UBS Commercial Mortgage Pass-Through Certificates Series 2004-C2 (Exact name of registrant as specified in its charter) New York (governing law of Pooling and Servicing Agreement) (State of Incorporation) 54-2151895 54-2151896 54-2151897 54-6612479 54-6612480 (I.R.S. Employer Identification No.) C/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) (410) 884-2000 Registrant's Full Telephone Number (Former name, former address and former fiscal year, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On January 18, 2005, a distribution was made to holders of Lehman Brothers - UBS, Commercial Mortgage Pass-Through Certificates, Series 2004-C2. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 2004-C2, relating to the January 18, 2005 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Lehman Brothers - UBS Commercial Mortgage Pass-Through Certificates Series 2004-C2 (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: January 18, 2005 INDEX TO EXHIBITS Exhibit Number Description (EX-99.1) Monthly report distributed to holders of Commercial Mortgage Pass-Through Certificates, Series 2004-C2, relating to the January 18, 2005 distribution. Wells Fargo Bank, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 Lehman Brothers - UBS Commercial Mortgage Pass-Through Certificates Series 2004-C2 For Additional Information, please contact CTSLink Customer Service (301) 815-6600 Reports Available on the World Wide Web @ www.ctslink.com/cmbs Payment Date: January 18, 2005 Record Date: December 31, 2004 DISTRIBUTION DATE STATEMENT Table of Contents STATEMENT SECTIONS PAGE(s) Certificate Distribution Detail 2 Certificate Factor Detail 3 Reconciliation Detail 4 Other Required Information 5 Cash Reconciliation 6 Ratings Detail 7 Current Mortgage Loan and Property Stratification Tables 8 - 10 Mortgage Loan Detail 11 - 13 Principal Prepayment Detail 14 Historical Detail 15 Delinquency Loan Detail 16 - 17 Specially Serviced Loan Detail 18 - 19 Modified Loan Detail 20 Liquidated Loan Detail 21 Underwriter Lehman Brothers Inc. 3 World Financial Center New York, NY 10285 Contact: Tricia Hall Phone Number: (212) 526-5850 Master Servicer Midland Loan Services, Inc. 10851 Mastin Street, Bldg. 82 Suite 700 Overland Park, KS 66210 Contact: Brad Hauger Phone Number: (913) 253-9000 Special Servicer Midland Loan Services, Inc. 10851 Mastin Street, Bldg. 82 Suite 700 Overland Park, KS 66210 Contact: Brad Hauger Phone Number: (913) 253-9000 This report has been compiled from information provided to Wells Fargo Bank, N.A. by various third parties, which may include the Servicer, Master Servicer, Special Servicer and others. Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished by third parties. Copyright 2005, Wells Fargo Bank, N.A.

Certificate Distribution Detail Class CUSIP Pass-Through Original Beginning Principal Interest Rate Balance Balance Distribution Distribution A-1 52108HZV9 2.946000% 100,000,000.00 95,~~763~~170,~~403~~630.4453 ~~592~~544,~~772~~266.9182 ~~235~~233,~~099~~643.1690 A-2 52108HZW7 3.246000% 267,000,000.00 267,000,000.00 0.00 722,235.00 A-3 52108HZX5 3.973000% 144,000,000.00 144,000,000.00 0.00 476,760.00 A-4 52108HZY3 4.367000% 558,483,000.00 558,483,000.00 0.00 2,032,412.72 B 52108HZZ0 4.427000% 15,433,000.00 15,433,000.00 0.00 56,934.91 C 52108HA20 4.437000% 13,889,000.00 13,889,000.00 0.00 51,354.58 D 52108HA38 4.457000% 12,346,000.00 12,346,000.00 0.00 45,855.10 E 52108HA46 4.487000% 16,976,000.00 16,976,000.00 0.00 63,476.09 F 52108HA53 4.506000% 13,890,000.00 13,890,000.00 0.00 52,156.95 G 52108HA61 4.595000% 21,605,000.00 21,605,000.00 0.00 82,729.15 H 52108HA79 4.743000% 12,347,000.00 12,347,000.00 0.00 48,801.52 J 52108HA87 4.841000% 10,802,000.00 10,802,000.00 0.00 43,577.07 K 52108HA95 5.~~103132~~102977% 12,347,000.00 12,347,000.00 0.00 52,~~506~~505.9838 L 52108HB29 4.716000% 4,629,000.00 4,629,000.00 0.00 18,191.97 M 52108HB37 4.716000% 4,630,000.00 4,630,000.00 0.00 18,195.90 N 52108HB45 4.716000% 3,087,000.00 3,087,000.00 0.00 12,131.91 P 52108HB52 4.716000% 3,086,000.00 3,086,000.00 0.00 12,127.98 Q 52108HB60 4.716000% 3,087,000.00 3,087,000.00 0.00 12,131.91 S 52108HB78 4.716000% 3,086,000.00 3,086,000.00 0.00 12,127.98 T 52108HB86 4.716000% 13,890,151.28 13,890,151.28 0.00 54,~~564~~588.2831 R-I N/A 0.000000% 0.00 0.00 0.00 0.00 R-II N/A 0.000000% 0.00 0.00 0.00 0.00 R-III N/A 0.000000% 0.00 0.00 0.00 0.00 V N/A 0.000000% 0.00 0.00 0.00 0.00 Totals 1,234,613,151.28 1,~~230~~229,~~376~~783,~~554~~781.7281 ~~592~~544,~~772~~266.9182 4,~~103~~101,~~371~~938.1633

Class CUSIP Prepayment Realized Loss/ Total Ending Current Penalties Additional Trust Distribution Balance Subordination Fund Expenses Level (1) A-1 52108HZV9 0.00 0.00 ~~827~~777,~~872~~910.0772 9594,~~170~~626,~~630~~363.5371 13.43% A-2 52108HZW7 0.00 0.00 722,235.00 267,000,000.00 13.43% A-3 52108HZX5 0.00 0.00 476,760.00 144,000,000.00 13.43% A-4 52108HZY3 0.00 0.00 2,032,412.72 558,483,000.00 13.43% B 52108HZZ0 0.00 0.00 56,934.91 15,433,000.00 12.1718% C 52108HA20 0.00 0.00 51,354.58 13,889,000.00 11.0405% D 52108HA38 0.00 0.00 45,855.10 12,346,000.00 10.04% E 52108HA46 0.00 0.00 63,476.09 16,976,000.00 8.66% F 52108HA53 0.00 0.00 52,156.95 13,890,000.00 7.53% G 52108HA61 0.00 0.00 82,729.15 21,605,000.00 5.7778% H 52108HA79 0.00 0.00 48,801.52 12,347,000.00 4.77% J 52108HA87 0.00 0.00 43,577.07 10,802,000.00 3.89% K 52108HA95 0.00 0.00 52,~~506~~505.9838 12,347,000.00 2.89% L 52108HB29 0.00 0.00 18,191.97 4,629,000.00 2.51% M 52108HB37 0.00 0.00 18,195.90 4,630,000.00 2.13% N 52108HB45 0.00 0.00 12,131.91 3,087,000.00 1.88% P 52108HB52 0.00 0.00 12,127.98 3,086,000.00 1.63% Q 52108HB60 0.00 0.00 12,131.91 3,087,000.00 1.38% S 52108HB78 0.00 0.00 12,127.98 3,086,000.00 1.13% T 52108HB86 0.00 0.00 54,~~564~~588.2831 13,890,151.28 0.00% R-I N/A 0.00 0.00 0.00 0.00 0.00% R-II N/A 0.00 0.00 0.00 0.00 0.00% R-III N/A 0.00 0.00 0.00 0.00 0.00% V N/A 0.00 0.00 0.00 0.00 0.00% Totals 0.00 0.00 4,~~696~~646,~~144~~205.0715 1,229,~~783~~239,~~781~~514.8199

Class CUSIP Pass-Through Original Beginning Interest Rate Notional Notional Distribution Amount Amount X-CL 52108HB94 0.~~134953~~133093% 1,234,613,151.28 1,~~230~~229,~~376~~783,~~554~~781.7281 ~~138~~136,~~369~~396.2548 X-CP 52108HC28 1.~~232538~~233218% 1,156,061,000.00 1,156,061,000.00 1,~~187~~188,~~407~~062.4858

Class CUSIP Prepayment Total Ending Penalties Distribution Notional Amount X-CL 52108HB94 0.00 ~~138~~136,~~369~~396.2548 1,229,~~783~~239,~~781~~514.8199 X-CP 52108HC28 0.00 1,~~187~~188,~~407~~062.4858 1,156,061,000.00 (1) Calculated by taking (A) the sum of the ending certificate balance of all classes less (B) the sum of (i) the ending certificate balance of the designated class and (ii) the ending certificate balance of all classes which are not subordinate to the designated class and dividing the result by (A).

Certificate Factor Detail Class CUSIP Beginning Principal Interest Prepayment Realized Loss/ Ending Balance Distribution Distribution Penalties Additional Balance Trust Fund Expenses A-1 52108HZV9 ~~957~~951.~~63403440~~70630530 5.~~92772910~~44266820 2.~~35099160~~33643900 0.00000000 0.00000000 ~~951~~946.~~70630530~~26363710 A-2 52108HZW7 1,000.00000000 0.00000000 2.70500000 0.00000000 0.00000000 1,000.00000000 A-3 52108HZX5 1,000.00000000 0.00000000 3.31083333 0.00000000 0.00000000 1,000.00000000 A-4 52108HZY3 1,000.00000000 0.00000000 3.63916667 0.00000000 0.00000000 1,000.00000000 B 52108HZZ0 1,000.00000000 0.00000000 3.68916672 0.00000000 0.00000000 1,000.00000000 C 52108HA20 1,000.00000000 0.00000000 3.69750018 0.00000000 0.00000000 1,000.00000000 D 52108HA38 1,000.00000000 0.00000000 3.71416653 0.00000000 0.00000000 1,000.00000000 E 52108HA46 1,000.00000000 0.00000000 3.73916647 0.00000000 0.00000000 1,000.00000000 F 52108HA53 1,000.00000000 0.00000000 3.75500000 0.00000000 0.00000000 1,000.00000000 G 52108HA61 1,000.00000000 0.00000000 3.82916686 0.00000000 0.00000000 1,000.00000000 H 52108HA79 1,000.00000000 0.00000000 3.95250020 0.00000000 0.00000000 1,000.00000000 J 52108HA87 1,000.00000000 0.00000000 4.03416682 0.00000000 0.00000000 1,000.00000000 K 52108HA95 1,000.00000000 0.00000000 4.~~25261035~~25248076 0.00000000 0.00000000 1,000.00000000 L 52108HB29 1,000.00000000 0.00000000 3.93000000 0.00000000 0.00000000 1,000.00000000 M 52108HB37 1,000.00000000 0.00000000 3.93000000 0.00000000 0.00000000 1,000.00000000 N 52108HB45 1,000.00000000 0.00000000 3.93000000 0.00000000 0.00000000 1,000.00000000 P 52108HB52 1,000.00000000 0.00000000 3.93000000 0.00000000 0.00000000 1,000.00000000 Q 52108HB60 1,000.00000000 0.00000000 3.93000000 0.00000000 0.00000000 1,000.00000000 S 52108HB78 1,000.00000000 0.00000000 3.93000000 0.00000000 0.00000000 1,000.00000000 T 52108HB86 1,000.00000000 0.00000000 3.~~92827111~~93000111 0.00000000 0.00000000 1,000.00000000 R-I N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 V N/A 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000

Class CUSIP Beginning Interest Prepayment Ending Notional Distribution Penalties Notional Amount Amount X-CL 52108HB94 996.~~56848256~~08835410 0.~~11207498~~11047710 0.00000000 ~~996~~995.~~08835410~~64751413 X-CP 52108HC28 1,000.00000000 1.~~02711490~~02768157 0.00000000 1,000.00000000

Reconciliation Detail Advance Summary P & I Advances Outstanding ~~264~~553,~~471~~286.7511 Servicing Advances Outstanding 5622,~~644~~123.6041 Reimbursement for Interest on P&I Advances 230.7700 paid from general collections Reimbursement for Interest on Servicing 0.00 Advances paid from general collections

Servicing Fee Summary Current Period Accrued Master Servicing Fees 37,~~834~~813.7641 Less Master Servicing Fees on Delinquent Payments 26,~~870~~599.7482 Less Reductions to Master Servicing Fees 0.00 Plus Master Servicing Fees for Delinquent Payments Received 32,~~873~~870.8974 Plus Adjustments for Prior Master Servicing Calculation 0.00 Total Master Servicing Fees Collected 3834,~~837~~084.9133

Certificate Interest Reconciliation Class Accrued Net Aggregate Distributable Distributable Additional Interest ARD Additional Certificate Prepayment Certificate Certificate Trust Fund Distribution Interest Interest Interest Interest Interest Expenses Shortfall Adjustment A-1 ~~235~~233,~~099~~643.1690 0.00 ~~235~~233,~~099~~643.1690 0.00 0.00 ~~235~~233,~~099~~643.1690 0.00 A-2 722,235.00 0.00 722,235.00 0.00 0.00 722,235.00 0.00 A-3 476,760.00 0.00 476,760.00 0.00 0.00 476,760.00 0.00 A-4 2,032,412.72 0.00 2,032,412.72 0.00 0.00 2,032,412.72 0.00 X-CL ~~138~~136,~~369~~396.2548 0.00 ~~138~~136,~~369~~396.2548 0.00 0.00 ~~138~~136,~~369~~396.2548 0.00 X-CP 1,~~187~~188,~~407~~062.4858 0.00 1,~~187~~188,~~407~~062.4858 0.00 0.00 1,~~187~~188,~~407~~062.4858 0.00 B 56,934.91 0.00 56,934.91 0.00 0.00 56,934.91 0.00 C 51,354.58 0.00 51,354.58 0.00 0.00 51,354.58 0.00 D 45,855.10 0.00 45,855.10 0.00 0.00 45,855.10 0.00 E 63,476.09 0.00 63,476.09 0.00 0.00 63,476.09 0.00 F 52,156.95 0.00 52,156.95 0.00 0.00 52,156.95 0.00 G 82,729.15 0.00 82,729.15 0.00 0.00 82,729.15 0.00 H 48,801.52 0.00 48,801.52 0.00 0.00 48,801.52 0.00 J 43,577.07 0.00 43,577.07 0.00 0.00 43,577.07 0.00 K 52,~~506~~505.9838 0.00 52,~~506~~505.9838 0.00 0.00 52,~~506~~505.9838 0.00 L 18,191.97 0.00 18,191.97 0.00 0.00 18,191.97 0.00 M 18,195.90 0.00 18,195.90 0.00 0.00 18,195.90 0.00 N 12,131.91 0.00 12,131.91 0.00 0.00 12,131.91 0.00 P 12,127.98 0.00 12,127.98 0.00 0.00 12,127.98 0.00 Q 12,131.91 0.00 12,131.91 0.00 0.00 12,131.91 0.00 S 12,127.98 0.00 12,127.98 0.00 0.00 12,127.98 0.00 T 54,588.29 0.00 54,588.29 0.00 240.0200 54,~~564~~588.2831 0.00 Total 5,~~429~~426,~~171~~397.9037 0.00 5,~~429~~426,~~171~~397.9037 0.00 240.0200 5,~~429~~426,~~147~~397.8939 0.00

Class Total Unpaid Interest Distributable Distribution Certificate Int. A-1 ~~235~~233,~~099~~643.1690 0.00 A-2 722,235.00 0.00 A-3 476,760.00 0.00 A-4 2,032,412.72 0.00 X-CL ~~138~~136,~~369~~396.2548 0.00 X-CP 1,~~187~~188,~~407~~062.4858 0.00 B 56,934.91 0.00 C 51,354.58 0.00 D 45,855.10 0.00 E 63,476.09 0.00 F 52,156.95 0.00 G 82,729.15 0.00 H 48,801.52 0.00 J 43,577.07 0.00 K 52,~~506~~505.9838 0.00 L 18,191.97 0.00 M 18,195.90 0.00 N 12,131.91 0.00 P 12,127.98 0.00 Q 12,131.91 0.00 S 12,127.98 0.00 T 54,~~564~~588.2831 523.9897 Total 5,~~429~~426,~~147~~397.8939 523.9897

Other Required Information Available Distribution Amount (1) 65,~~021~~970,~~920~~664.8021 Aggregate Number of Outstanding Loans 83 Aggregate Unpaid Principal Balance of Loans 1,229,~~811~~308,~~409~~974.0451 Aggregate Stated Principal Balance of Loans 1,229,~~783~~239,~~781~~514.8199 Aggregate Amount of Servicing Fee 3834,~~837~~084.9133 Aggregate Amount of Special Servicing Fee 0.00 Aggregate Amount of Trustee Fee 1,~~948~~947.1016 Aggregate Trust Fund Expenses 230.7700 Deposit into the Interest Reserve Account 0181,004.0091 Withdrawal from the Interest Reserve Account 0.00 Specially Serviced Loans not Delinquent Number of Outstanding Loans 0 Aggregate Unpaid Principal Balance 0.00 (1) The Available Distribution Amount includes any Prepayment Premiums.

Original Subordination Level Class A-1 13.38% Class H 4.75% Class A-2 13.38% Class J 3.88% Class A-3 13.38% Class K 2.88% Class A-4 13.38% Class L 2.50% Class B 12.13% Class M 2.13% Class C 11.00% Class N 1.88% Class D 10.00% Class P 1.63% Class E 8.63% Class Q 1.38% Class F 7.50% Class S 1.13% Class G 5.75% Class T 0.00% Appraisal Reduction Amount None Cash Reconciliation Detail Total Funds Collected Interest: Scheduled Interest 5,647,162.84 Interest reductions due to Nonrecoverability Determinations 0.00 Interest Adjustments 0.00 Deferred Interest 0.00 Net Prepayment Interest Shortfall 0.00 Net Prepayment Interest Excess 0.00 Extension Interest 0.00 Interest Reserve Withdrawal 0.00 Total Interest Collected 5,647,162.84 Principal: Scheduled Principal 544,266.82 Unscheduled Principal 0.00 Principal Prepayments 0.00 Collection of Principal after Maturity Date 0.00 Recoveries from Liquidation and Insurance Proceeds 0.00 Excess of Prior Principal Amounts paid 0.00 Curtailments 0.00 Negative Amortization 0.00 Principal Adjustments 0.00 Total Principal Collected 544,266.82 Other: Prepayment Penalties/Yield Maintenance 0.00 Repayment Fees 0.00 Borrower Option Extension Fees 0.00 Equity Payments Received 0.00 Net Swap Counterparty Payments Received 0.00 Total Other Collected: 0.00 Total Funds Collected 6,191,429.66 Total Funds Distributed Fees: Master Servicing Fee 37,813.41 Trustee Fee 1,947.16 Certificate Administration Fee 0.00 Insurer Fee 0.00 Miscellaneous Fee 0.00 Total Fees 39,760.57 Additional Trust Fund Expenses: Reimbursement for Interest on Advances 0.00 ASER Amount 0.00 Special Servicing Fee 0.00 Rating Agency Expenses 0.00 Attorney Fees & Expenses 0.00 Bankruptcy Expense 0.00 Taxes Imposed on Trust Fund 0.00 Non-Recoverable Advances 0.00 Other Expenses 0.00 Total Additional Trust Fund Expenses 0.00 Interest Reserve Deposit 181,004.91 Payments to Certificateholders & Others: Interest Distribution 5,426,397.39 Principal Distribution 544,266.82 Prepayment Penalties/Yield Maintenance 0.00 Borrower Option Extension Fees 0.00 Equity Payments Paid 0.00 Net Swap Counterparty Payments Paid 0.00 Total Payments to Certificateholders & Others 5,970,664.21 Total Funds Distributed 6,191,429.69

Current Mortgage Loan and Property Stratification Tables Scheduled Balance Scheduled # of Scheduled % of WAM WAC Weighted Balance Loans Balance Agg. (2) Avg DSCR (1) Bal. Below 2,000,000 12 16,~~136~~118,~~457~~592.5707 1.31 ~~110~~109 6.0441 1.~~521360~~542682 2,000,001 to 4,000,000 24 71,~~513~~443,~~673~~205.0724 5.8281 ~~105~~104 5.8956 1.~~511696~~531381 4,000,001 to 6,000,000 15 75,~~393~~318,~~964~~132.5503 6.13 9594 5.8043 1.~~456979~~457664 6,000,001 to 8,000,000 5 34,~~794~~766,~~829~~223.1005 2.83 9897 5.~~7008~~7007 1.~~764238~~764505 8,000,001 to 10,000,000 1 8,~~152~~144,~~556~~120.0946 0.66 4948 5.3900 1.400000 10,000,001 to 15,000,000 12 ~~147~~146,~~076~~985,~~444~~035.0464 11.96 ~~104~~103 5.7211 1.~~348495~~333874 15,000,001 to 20,000,000 2 34,~~660~~624,~~649~~602.2205 2.82 8079 6.~~2818~~2817 1.~~374945~~374923 20,000,001 to 25,000,000 2 44,~~648~~629,~~766~~229.0918 3.63 ~~114~~113 5.~~6424~~6421 1.~~434978~~435077 25,000,001 to 50,000,000 5 203,~~206~~010,~~442~~375.0827 16.52 ~~104~~103 5.~~6239~~6240 1.~~510756~~510730 50,000,001 to 75,000,000 1 54,000,000.00 4.39 5049 4.6375 1.870000 75,000,001 to 100,000,000 1 77,200,000.00 6.28 ~~111~~110 5.3500 1.320000 100,000,001 to 150,000,000 2 275,500,000.00 22.4041 ~~109~~108 5.0565 2.504773 150,000,001 and greater 1 187,500,000.00 15.25 4948 4.5325 3.020000 Totals 83 1,229,~~783~~239,~~781~~514.8199 100.00 9493 5.~~3337~~3335 1.~~944696~~944628

State (3) State # of Scheduled % of WAM WAC Weighted Props Balance Agg. (2) Avg DSCR (1) Bal. Arizona 3 20,~~276~~249,~~507~~272.2458 1.65 9796 5.5765 1.~~233169~~233211 California 19 305,~~216~~007,~~581~~149.5085 24.8281 9291 5.~~4406~~4404 1.~~657864~~657938 Colorado 3 7,~~587~~580,~~834~~957.5665 0.62 ~~108~~107 5.9594 1.~~815327~~815326 Connecticut 3 23,~~631~~628,~~390~~978.4330 1.92 9392 5.5386 1.~~789017~~832652 Florida 8 42,~~486~~443,~~065~~946.6801 3.45 8584 5.7111 1.~~410430~~410432 Georgia 2 9,~~026~~018,~~315~~721.4009 0.73 ~~142~~141 6.2506 1.~~440684~~446298 Illinois 2 78,153,192.38 6.36 ~~109~~108 5.2468 2.400000 Indiana 1 10,250,000.00 0.83 7574 5.0500 1.~~790000~~580000 Kentucky 1 5,~~926~~920,~~679~~840.3069 0.48 7271 5.6200 1.730000 Maine 1 2,~~220~~217,~~825~~660.0276 0.18 ~~111~~110 5.7400 1.~~580000~~750000 Maryland 1 6,~~154~~146,~~849~~498.6265 0.50 ~~109~~108 6.0800 1.490000 Massachusetts 1 1,~~680~~678,~~304~~188.2214 0.14 ~~111~~110 6.3900 1.240000 Michigan 2 131,~~240~~235,~~444~~390.6012 10.6768 ~~110~~109 4.8824 2.~~580574~~580616 Nevada 4 22,~~915~~893,~~620~~488.0297 1.86 8382 5.6520 1.354984 New Hampshire 2 1,~~709~~708,~~812~~203.1794 0.14 ~~111~~110 5.7300 1.440000 New Jersey 4 33,~~993~~961,~~584~~737.7017 2.76 7877 5.9469 1.~~081173~~091284 New York 8 ~~287~~286,~~032~~954,~~872~~990.8689 23.34 7574 5.~~0087~~0084 2.~~505583~~505880 North Carolina 3 4,~~798~~796,~~039~~097.9414 0.39 ~~110~~109 5.~~5483~~5482 2.~~431827~~432119 Oklahoma 1 3,~~649~~646,~~897~~546.3033 0.30 ~~110~~109 5.8600 1.220000 Oregon 1 1,~~337~~335,~~026~~826.6748 0.11 ~~110~~109 5.9500 1.430000 Pennsylvania 5 18,~~241~~234,~~518~~655.0326 1.48 ~~109~~108 5.~~4128~~4126 2.~~217831~~218064 South Carolina 4 6,~~267~~265,~~261~~143.0400 0.51 ~~111~~110 5.~~5335~~5334 2.~~745860~~746089 Texas 12 83,~~445~~401,~~243~~000.5025 6.7978 9695 5.6262 1.~~371978~~371941 Utah 1 1,~~276~~274,~~719~~818.2410 0.10 ~~108~~107 5.6100 1.550000 Virginia 4 20,~~112~~092,~~102~~104.4670 1.6463 ~~147~~146 6.3307 1.~~454638~~454626 Washington 3 18,~~571~~562,~~506~~518.2889 1.51 9897 5.~~3834~~3833 1.~~952989~~953230 Washington,DC 1 77,200,000.00 6.28 ~~111~~110 5.3500 1.320000 Wisconsin 1 5,381,587.66 0.44 ~~109~~108 5.2468 2.400000 Totals 101 1,229,~~783~~239,~~781~~514.8199 100.00 9493 5.~~3337~~3335 1.~~944696~~944628

Debt Service Coverage Ratio (1) Debt Service # of Scheduled % of WAM WAC Weighted Coverage Ratio Loans Balance Agg. (2) Avg DSCR (1) Bal. Less than 1.29 18 ~~219~~218,~~130~~948,~~875~~995.1301 17.8281 ~~104~~103 5.8792 1.~~194140~~194158 1.30 to 1.39 1917 ~~194~~190,~~126~~709,~~359~~760.6238 15.7951 ~~102~~101 5.~~5836~~5782 1.~~337067~~337317 1.40 to 1.49 14 85,~~985~~903,~~752~~113.0713 6.99 ~~111~~110 5.~~8656~~8657 1.~~441660~~442247 1.50 to 1.59 10 8391,~~807~~748,~~583~~678.7205 67.8146 ~~108~~103 5.~~9725~~8751 1.~~543396~~546599 1.60 to 1.69 2 6,~~711~~704,~~778~~988.1667 0.55 6968 5.~~5433~~5434 1.~~622778~~622777 1.70 to 1.79 1012 5551,~~877~~143,~~980~~804.0138 4.5416 7578 5.~~2828~~3888 1.~~728070~~717109 1.80 to 1.89 2 58,~~943~~938,~~222~~743.9763 4.79 5554 4.~~7484~~7483 1.870000 1.90 and greater 8 525,~~200~~141,~~230~~431.1374 42.7172 8887 4.8931 2.~~664386~~664437 Totals 83 1,229,~~783~~239,~~781~~514.8199 100.00 9493 5.~~3337~~3335 1.~~944696~~944628

Property Type (3) Property # of Scheduled % of WAM WAC Weighted Type Props Balance Agg. (2) Avg DSCR (1) Bal. Industrial 1 5,~~065~~059,~~901~~086.6541 0.41 ~~108~~107 6.1600 0.750000 Lodging 1 16,~~814~~795,~~984~~229.7643 1.37 ~~111~~110 6.7400 1.550000 Mobile Home Park 4 15,~~342~~336,~~024~~250.0675 1.25 8786 5.~~3438~~3436 1.~~671708~~598592 Multi-Family 21 171,~~256~~144,~~824~~543.3382 13.9392 9190 5.~~6093~~6092 1.~~431460~~433468 Office 25 ~~506~~505,~~015~~936,~~793~~210.4862 41.1516 8483 5.~~0883~~0882 2.~~277565~~277706 Retail 43 500,~~853~~548,~~329~~324.3011 40.7372 ~~104~~103 5.~~4137~~4135 1.~~831474~~831783 Self Storage 6 14,~~434~~419,~~924~~869.2385 1.17 ~~107~~106 5.~~9533~~9534 1.~~462784~~488911 Totals 101 1,229,~~783~~239,~~781~~514.8199 100.00 9493 5.~~3337~~3335 1.~~944696~~944628

Note Rate Note Rate # of Scheduled % of WAM WAC Weighted Loans Balance Agg. (2) Avg DSCR (1) Bal. 4.750% or Less 3 262,000,000.00 21.3031 4948 4.5712 2.679695 4.751% to 5.000% 1 125,500,000.00 10.21 ~~110~~109 4.8290 2.630000 5.001% to 5.250% 6 225,~~883~~811,~~207~~635.88 18.37 ~~103~~102 5.2033 2.~~239084~~229646 5.251% to 5.500% 7 119,~~818~~781,~~402~~794.5575 9.74 ~~101~~100 5.3654 1.~~459972~~459976 5.501% to 5.750% 16 173,~~437~~275,~~574~~452.5680 14.10 ~~104~~103 5.6707 1.~~405564~~413689 5.751% to 6.000% 26 184,~~250~~109,~~136~~700.5560 14.98 9594 5.~~8606~~8605 1.~~345469~~345448 6.001% to 6.250% 15 72,~~979~~908,~~874~~526.3554 5.93 ~~107~~106 6.0890 1.~~330437~~330445 6.251% to 6.500% 6 41,~~952~~916,~~870~~780.4155 3.41 ~~161~~160 6.4111 1.~~284190~~292390 6.501% and greater 3 23,~~961~~935,~~715~~623.5187 1.95 ~~123~~122 6.7090 1.~~504777~~506885 Totals 83 1,229,~~783~~239,~~781~~514.8199 100.00 9493 5.~~3337~~3335 1.~~944696~~944628

Seasoning Seasoning # of Scheduled % of WAM WAC Weighted Loans Balance Agg. (2) Avg DSCR (1) Bal. 12 months or less 8062 1,~~178~~024,~~881~~536,~~326~~919.4704 9583.8635 9388 5.~~3151~~2204 12.~~969341~~064281 13 to 24 months 321 50204,~~902~~702,~~455~~595.3495 416.1465 ~~102~~116 5.~~7642~~8996 1.~~373936~~345763 25 to 36 months 0 0.00 0.00 0 0.0000 0.000000 37 to 48 months 0 0.00 0.00 0 0.0000 0.000000 49 to 60 months 0 0.00 0.00 0 0.0000 0.000000 60 and greater 0 0.00 0.00 0 0.0000 0.000000 Totals 83 1,229,~~783~~239,~~781~~514.8199 100.00 9493 5.~~3337~~3335 1.~~944696~~944628

Anticipated Remaining Term (ARD and Balloon Loans) Anticipated # of Scheduled % of WAM WAC Weighted Remaining Term (2) Loans Balance Agg. (2) Avg DSCR (1) Bal. 60 months or less 12 326,~~687~~622,~~361~~473.0327 26.5657 4948 4.~~7592~~7591 2.~~417471~~417680 61 to 84 months 6 66,~~604~~561,~~229~~196.1749 5.4241 7473 5.~~6570~~6569 1.~~326174~~293890 85 to 120 months 61 789,~~654~~256,~~755~~221.2428 64.21 ~~109~~108 5.~~4805~~4804 1.~~841789~~844174 121 to 144 months 1 4,~~751~~747,~~564~~465.3013 0.39 ~~133~~132 6.1300 0.910000 145 months and greater 3 42,~~085~~052,~~872~~158.0782 3.42 ~~168~~167 6.4375 1.~~301355~~302561 Totals 83 1,229,~~783~~239,~~781~~514.8199 100.00 9493 5.~~3337~~3335 1.~~944696~~944628

Remaining Amortization Term (ARD and Balloon Loans) Remaining Amortization # of Scheduled % of WAM WAC Weighted Term Loans Balance Agg. (2) Avg DSCR (1) Bal. Interest Only 5 395,030,000.00 32.1214 7069 4.6694 2.669250 240 months or less 1 2,~~353~~348,~~747~~649.7693 0.19 ~~111~~110 5.9000 1.560000 241 to 300 months 18 89,~~755~~668,~~177~~949.3888 7.3029 ~~110~~109 6.0591 1.~~335475~~343499 301 to 336 months 1 10,500,000.00 0.85 7372 5.7800 1.290000 337 months and greater 58 ~~732~~731,~~144~~691,~~856~~915.6718 59.5352 ~~105~~104 5.~~5950~~5949 1.~~639074~~637711 Totals 83 1,229,~~783~~239,~~781~~514.8199 100.00 9493 5.~~3337~~3335 1.~~944696~~944628

Age of Most Recent NOI Age of Most # of Scheduled % of WAM WAC Weighted Recent NOI Loans Balance Agg. (2) Avg DSCR (1) Bal. Underwriter's Information 5754 ~~940~~934,~~397~~517,~~861~~463.3053 76.4702 8887 5.~~2357~~2320 2.~~087929~~092104 1 year or less 2425 ~~282~~268,~~415~~754,~~340~~339.0969 2221.9686 ~~111~~108 5.~~6463~~6022 1.~~470747~~469977 1 to 2 years 24 625,~~970~~967,~~580~~711.4277 02.5711 ~~108~~137 56.~~8873~~2066 1.~~823465~~549724 2 years or greater 0 0.00 0.00 0 0.0000 0.000000 Totals 83 1,229,~~783~~239,~~781~~514.8199 100.00 9493 5.~~3337~~3335 1.~~944696~~944628 (1) The Trustee makes no representations as to the accuracy of the data provided by the borrower for this calculation. "NAP" means not applicable and relates to the ommission of credit lease loans in the calculation of DSCR. (2) Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the ~~maturity~~Maturity ~~date~~Date. (3) Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut-off Date Balance of the related mortgage loan as disclosed in the offering document.

Mortgage Loan Detail Loan Property Interest Principal Gross Number ODCR Type (1) City State Payment Payment Coupon 30238692 1 OF New York NY ~~708~~731,~~203~~809.1390 0.00 4.533% 30239503 2 OF Various Various ~~655~~677,~~848~~710.7538 0.00 5.247% 30239188 3 RT Troy MI ~~505~~521,~~032~~867.9235 0.00 4.829% 30239462 4 OF Washington DC ~~344~~355,~~183~~656.3311 0.00 5.350% 30239493 5 RT San Bernardino CA ~~208~~215,~~687~~643.5075 0.00 4.638% 30239499 6 RT Colma CA ~~222~~230,~~906~~076.6020 5346,~~711~~542.6000 5.635% 30239453 7 RT Los Angeles CA ~~190~~196,~~118~~214.1582 5448,~~624~~527.1851 5.115% 30239504 8 MF New York NY ~~213~~219,~~122~~983.9587 4942,~~199~~338.0412 5.740% 30239557 9 RT Torrance CA ~~175~~181,~~800~~660.00 030,948.0060 5.860% 30239466 10 RT Manahawkin NJ ~~151~~156,~~284~~161.4974 3227,~~587~~710.8358 5.900% 30239474 11 RT Carle Place NY ~~128~~133,~~919~~086.8453 2319,~~703~~536.6091 6.400% 30239495 12 MF Monterey CA 8183,~~145~~850.8369 0.00 4.750% 30239464 13 MF San Francisco CA 8789,~~090~~897.7253 1916,~~098~~291.6584 5.850% 30239496 14 LO San Diego CA 9497,~~572~~592.0930 2219,~~775~~755.5433 6.740% 30239467 15 RT Sierra Vista AZ 6971,~~181~~372.7893 2321,~~829~~638.2813 5.600% 30239451 16 OF New York NY 7678,~~370~~835.0860 1512,~~111~~645.2876 6.160% 30239492 17 MF Spring TX 6972,~~683~~006.3311 0.00 5.650% 30239507 18 OF Miami FL 5456,~~733~~487.6197 1514,~~929~~175.7640 5.110% 30239481 19 RT Manassas VA 6971,~~122~~356.0763 1210,~~534~~299.4892 6.440% 30239502 20 MF Leon Valley TX 5961,~~262~~237.0040 0.00 5.810% 30239508 21 OF Deerfield Beach FL 5961,~~540~~460.0309 1210,~~483~~563.2014 6.010% 30239498 22 OF Las Vegas NV 5355,~~398~~117.0274 1210,~~182~~462.4876 5.740% 30239469 23 MF Houston TX 4749,~~989~~528.1055 1311,~~162~~623.7429 5.310% 30239448 24 OF Westport CT 5052,~~575~~260.0083 0.00 5.780% 30239463 25 MH Indianapolis IN 4344,~~135~~573.4226 0.00 5.050% 30239500 26 MF San Antonio TX 4850,~~707~~330.1774 0.00 5.810% 30239549 27 OF San Antonio TX 3637,~~661~~839.7418 98,~~613~~435.0763 5.390% 30239497 28 OF Studio City CA 3637,~~388~~560.9176 87,~~331~~160.9611 5.730% 30239445 29 RT Various Various 34,073.25 0.00 5.430% 30239523 30 OF Los Angeles CA 3334,~~485~~564.8885 76,~~352~~273.2831 5.880% 30239449 31 MF Houston TX 3031,~~277~~250.6438 76,~~794~~821.4066 5.440% 30239479 32 RT Reisterstown MD 3132,~~231~~224.9106 98,~~343~~350.1297 6.080% 30239478 33 RT Lexington KY 2728,~~788~~681.1484 65,~~732~~838.3161 5.620% 30239485 34 MF Tukwila WA 2526,~~480~~297.3179 76,~~063~~245.1769 5.240% 30239487 35 RT Westland MI 2829,~~971~~906.6012 5,~~989~~054.0048 6.050% 30239442 36 RT Pasadena CA 2627,~~531~~385.3923 65,~~299~~445.0218 5.630% 30239490 37 RT Van Nuys CA 2526,~~733~~562.9469 5,~~847~~018.6489 5.770% 30239547 38 MF Colonial Heights VA 2526,~~490~~299.8963 87,~~046~~237.6995 5.910% 30239491 39 MF Dallas TX 2324,~~522~~278.0409 5,~~937~~181.7772 5.480% 30239473 40 IN Colton CA 26,~~044~~871.2079 76,~~642~~815.8324 6.160% 30239480 41 RT Smyrna GA 2728,~~952~~856.2174 43,~~780~~876.9542 6.610% 30239471 42 RT Santa Clarita CA 2425,~~577~~369.5272 54,~~271~~479.5434 5.960% 30239484 43 SS Los Angeles CA 2425,~~297~~081.5266 4,~~883~~099.3117 6.130% 30239558 44 RT Glendale AZ 19,~~212~~828.1063 54,~~162~~545.0350 5.370% 30239475 45 RT Las Vegas NV 1920,~~555~~184.7020 4,~~913~~284.2171 5.520% 30239494 46 RT Las Vegas NV 19,~~138~~754.7709 4,~~761~~145.1078 5.520% 30239441 47 MF Pompano Beach FL 2021,~~798~~469.7571 43,~~234~~563.8084 6.125% 30239509 48 OF Atlanta GA 19,~~111~~726.3377 43,~~333~~717.3389 5.790% 30239447 49 RT Van Nuys CA 1920,~~599~~231.2134 43,~~095~~463.7461 6.005% 30239470 50 RT Cedar Hill TX 1819,~~566~~164.3975 43,~~010~~412.5822 5.940% 30239458 51 RT Weatherford OK 1718,~~842~~417.8479 3,~~925~~350.9297 5.860% 30239489 52 RT Pasadena TX 17,~~306~~863.2779 3,~~862~~305.7119 5.820% 30239476 53 RT Fort Myers FL 17,~~274~~830.4979 3,~~894~~338.4919 5.820% 30239468 54 RT Live Oak FL 17,~~044~~592.6682 43,~~030~~482.9074 5.760% 30239562 55 RT Pensacola FL 17,~~038~~587.5072 3,~~662~~112.0280 5.940% 30239486 56 RT Las Vegas NV 1516,~~960~~474.6327 3,~~751~~237.4480 5.690% 30239524 57 RT McKinney TX 1617,~~662~~200.7235 32,~~377~~840.7714 6.120% 30239530 58 RT Falcon CO 1516,~~975~~490.3932 32,~~426~~911.5057 5.960% 30239483 59 RT Olympia WA 1516,~~847~~358.3863 32,~~252~~741.9570 6.070% 30239477 60 SS Centennial CO 1415,~~671~~144.2707 32,~~180~~707.4666 5.930% 30239446 61 RT Tarzana CA 13,~~396~~829.9302 2,~~799~~367.6253 6.005% 30239460 62 MH Wallingford CT 12,~~362~~760.5976 2,~~810~~412.3013 5.750% 30239501 63 MF San Antonio TX 12,~~346~~757.2579 0.00 5.810% 30239444 64 MH Various NY 1213,~~855~~263.2890 3,~~769~~361.8018 6.125% 30239559 65 RT Bakersfield CA 1112,~~828~~209.5056 2,~~625~~243.0599 5.850% 30239510 66 SS Houston TX 10,~~478~~814.6369 2,~~959~~623.4640 5.190% 30239560 67 OF Millcreek Township PA 11,~~599~~958.4235 5,~~456~~097.7683 5.900% 30239548 68 MF Delray Beach FL 12,~~069~~452.0767 3,~~555~~172.9434 6.110% 30239461 69 SS Westbrook ME 10,~~639~~977.7004 3,~~501~~164.6026 5.740% 30239465 70 SS Martinsville VA 11,~~612~~983.2702 2,~~830~~459.6489 6.700% 30239488 71 MF Greenville NC 9,~~657~~968.5740 21,~~253~~942.6380 5.710% 30239482 72 RT Cranberry PA 910,~~906~~226.6207 21,~~084~~764.3994 6.000% 30239459 73 MF Manchester NH 8,~~173~~436.2950 1,~~871~~608.4423 5.730% 30239452 74 MF Worcester MA 89,~~960~~245.4187 2,~~401~~116.5408 6.390% 30239450 75 RT Lancaster SC 7,~~375~~609.2825 2,~~352~~118.0104 5.860% 30239525 76 RT Aurora CO 7,~~076~~304.0925 1,~~485~~257.8468 6.020% 30239457 77 MF West Deptford NJ 7,~~319~~552.8496 1,~~976~~743.9179 6.390% 30239526 78 RT Pendleton OR 6,~~636~~850.4440 1,~~414~~200.1519 5.950% 30239472 79 RT Provo UT 56,~~978~~167.4362 21,~~090~~901.3314 5.610% 30239527 80 OF Scottsdale AZ 56,~~974~~166.0674 1,~~243~~051.7103 6.030% 30239456 81 MF Bellmawr NJ 6,~~056~~249.8979 1,~~635~~442.8292 6.390% 30239528 82 RT Tampa FL 34,~~932~~059.7050 ~~838~~711.0222 5.950% 30239454 83 MF Burlington NJ 34,~~988~~115.8185 ~~1,077~~950.2824 6.390% Totals 5,~~468~~647,~~954~~162.4784 ~~592~~544,~~772~~266.9182

Loan Anticipated Maturity Neg. Beginning Ending Paid Thru Number Repayment Date Amort Scheduled Scheduled Date Date (Y/N) Balance Balance 30238692 N/A 01/11/2009 N 187,500,000.00 187,500,000.00 1201/11/~~2004~~2005 30239503 N/A 01/08/2014 N 150,000,000.00 150,000,000.00 1201/08/~~2004~~2005 30239188 N/A 02/11/2014 N 125,500,000.00 125,500,000.00 1201/11/~~2004~~2005 30239462 03/11/2014 03/11/2034 N 77,200,000.00 77,200,000.00 1201/11/~~2004~~2005 30239493 N/A 02/11/2009 N 54,000,000.00 54,000,000.00 1201/11/~~2004~~2005 30239499 N/A 12/10/2013 N 47,~~469~~415,~~019~~307.5191 47,~~415~~368,~~307~~765.91 1201/11/~~2004~~2005 30239453 N/A 03/11/2014 N 44,~~602~~547,~~497~~873.7860 44,~~547~~499,~~873~~346.6009 1201/11/~~2004~~2005 30239504 01/11/2014 01/11/2034 N 44,~~555~~506,~~320~~121.2521 44,~~506~~463,~~121~~783.2109 1201/11/~~2004~~2005 30239557 N/A 11/11/2013 N 36,000,000.00 3635,~~000~~969,~~000~~051.0040 12/11/2004 30239466 N/A 03/11/2011 N 30,~~769~~737,~~727~~139.1936 30,~~737~~709,~~139~~428.3678 1201/11/~~2004~~2005 30239474 12/11/2018 12/11/2033 N 24,~~172~~148,~~469~~766.6909 24,~~148~~129,~~766~~229.0918 1201/11/~~2004~~2005 30239495 N/A 03/11/2009 N 20,500,000.00 20,500,000.00 1201/11/~~2004~~2005 30239464 N/A 03/11/2009 N 17,~~864~~845,~~763~~664.1146 17,~~845~~829,~~664~~372.4662 1201/11/~~2004~~2005 30239496 N/A 03/11/2014 N 16,~~837~~814,~~760~~984.3076 16,~~814~~795,~~984~~229.7643 1201/11/~~2004~~2005 30239467 N/A 03/11/2014 N 14,~~824~~800,~~668~~838.1688 14,~~800~~779,~~838~~200.8875 1201/11/~~2004~~2005 30239451 N/A 02/11/2014 N 14,~~877~~862,~~288~~177.8759 14,~~862~~849,~~177~~531.5983 1201/11/~~2004~~2005 30239492 N/A 02/01/2014 N 14,800,000.00 14,800,000.00 1201/01/~~2004~~2005 30239507 N/A 01/11/2009 N 12,~~853~~837,~~294~~365.9822 12,~~837~~823,~~365~~189.2282 1201/11/~~2004~~2005 30239481 12/11/2018 12/11/2033 N 12,~~879~~867,~~889~~354.2476 12,~~867~~857,~~354~~054.7684 1201/11/~~2004~~2005 30239502 N/A 12/11/2013 N 12,240,000.00 12,240,000.00 1112/11/2004 30239508 N/A 01/11/2014 N 11,~~888~~875,~~191~~708.6848 11,~~875~~865,~~708~~145.4834 1201/11/~~2004~~2005 30239498 N/A 03/11/2014 N 11,~~163~~151,~~349~~166.2678 11,~~151~~140,~~166~~704.7802 1201/11/~~2004~~2005 30239469 N/A 10/11/2013 N 10,~~844~~831,~~995~~832.0733 10,~~831~~820,~~832~~209.3304 1201/11/~~2004~~2005 30239448 N/A 01/11/2011 N 10,500,000.00 10,500,000.00 1201/11/~~2004~~2005 30239463 N/A 03/11/2011 N 10,250,000.00 10,250,000.00 1201/11/~~2004~~2005 30239500 N/A 12/11/2013 N 10,060,000.00 10,060,000.00 1112/11/2004 30239549 N/A 01/11/2009 N 8,~~162~~152,~~169~~556.1609 8,~~152~~144,~~556~~120.0946 1112/11/2004 30239497 N/A 03/11/2014 N 7,~~620~~612,~~713~~381.2731 7,~~612~~605,~~381~~221.3120 1201/11/~~2004~~2005 30239445 N/A 03/11/2014 N 7,530,000.00 7,530,000.00 1201/11/~~2004~~2005 30239523 N/A 01/11/2014 N 6,~~833~~826,~~853~~501.7648 6,~~826~~820,~~501~~228.4817 1112/11/2004 30239449 N/A 01/11/2009 N 6,~~678~~671,~~891~~096.0969 6,~~671~~664,~~096~~275.6903 1201/11/~~2004~~2005 30239479 N/A 01/11/2014 N 6,~~164~~154,~~192~~849.7462 6,~~154~~146,~~849~~498.6265 1201/11/~~2004~~2005 30239478 N/A 12/11/2010 N 5,~~933~~926,~~411~~679.6130 5,~~926~~920,~~679~~840.3069 1201/11/~~2004~~2005 30239485 N/A 01/11/2011 N 5,~~835~~828,~~186~~123.6144 5,~~828~~821,~~123~~877.4475 1201/11/~~2004~~2005 30239487 N/A 01/11/2014 N 5,~~746~~740,~~433~~444.60 5,~~740~~735,~~444~~390.60 12 01/11/~~2004~~2005 30239442 N/A 03/11/2014 N 5,~~655~~648,~~002~~703.2624 5,~~648~~643,~~703~~258.2406 1201/11/~~2004~~2005 30239490 N/A 02/11/2014 N 5,~~351~~346,~~946~~099.6804 5,~~346~~341,~~099~~080.0415 1201/11/~~2004~~2005 30239547 N/A 01/11/2014 N 5,~~175~~167,~~814~~768.8617 5,~~167~~160,~~768~~530.1722 1201/11/~~2004~~2005 30239491 N/A 02/01/2014 N 5,~~150~~144,~~811~~873.4467 5,~~144~~139,~~873~~691.6795 1201/01/~~2004~~2005 30239473 N/A 12/11/2013 N 5,~~073~~065,~~544~~901.4865 5,~~065~~059,~~901~~086.6541 1201/11/~~2004~~2005 30239480 N/A 12/11/2018 N 5,~~074~~069,~~532~~751.1722 5,~~069~~065,~~751~~874.2280 1201/11/~~2004~~2005 30239471 N/A 12/11/2013 N 4,~~948~~943,~~494~~222.5197 4,~~943~~938,~~222~~743.9763 1201/11/~~2004~~2005 30239484 N/A 01/11/2016 N 4,~~756~~751,~~447~~564.6130 4,~~751~~747,~~564~~465.3013 1201/11/~~2004~~2005 30239558 N/A 10/11/2008 N 4,~~293~~288,~~205~~043.8077 4,~~288~~283,~~043~~498.7727 12/11/2004 30239475 N/A 12/11/2008 N 4,~~251~~246,~~239~~325.1897 4,~~246~~242,~~325~~041.9726 1201/11/~~2004~~2005 30239494 N/A 02/11/2009 N 4,~~160~~155,~~601~~840.3020 4,~~155~~151,~~840~~694.2042 1201/11/~~2004~~2005 30239441 N/A 11/11/2008 N 4,~~074~~070,~~857~~623.8101 4,~~070~~067,~~623~~059.0117 1201/11/~~2004~~2005 30239509 N/A 01/11/2014 N 3,~~960~~956,~~897~~564.5118 3,~~956~~952,~~564~~846.1829 1201/11/~~2004~~2005 30239447 N/A 02/11/2014 N 3,~~916~~912,~~577~~482.9925 3,~~912~~909,~~482~~018.2564 1201/11/~~2004~~2005 30239470 N/A 12/11/2013 N 3,~~750~~746,~~785~~774.1153 3,~~746~~743,~~774~~362.5331 1201/11/~~2004~~2005 30239458 N/A 02/11/2014 N 3,~~653~~649,~~823~~897.2230 3,~~649~~646,~~897~~546.3033 1201/11/~~2004~~2005 30239489 02/11/2014 02/11/2034 N 3,~~568~~564,~~304~~441.1039 3,~~564~~561,~~441~~136.3920 1201/11/~~2004~~2005 30239476 N/A 12/11/2013 N 3,~~561~~557,~~751~~856.2071 3,~~557~~554,~~856~~518.7152 1201/11/~~2004~~2005 30239468 N/A 08/11/2013 N 3,~~550~~546,~~969~~939.9909 3,~~546~~543,~~939~~456.0935 1201/11/~~2004~~2005 30239562 N/A 01/11/2014 N 3,~~442~~438,~~120~~458.9391 3,~~438~~435,~~458~~346.9111 1201/11/~~2004~~2005 30239486 N/A 01/11/2011 N 3,~~366~~362,~~038~~287.5107 3,~~362~~359,~~287~~049.0727 1201/11/~~2004~~2005 30239524 N/A 12/11/2013 N 3,~~267~~263,~~200~~823.9518 3,~~263~~260,~~823~~983.1804 12/11/2004 30239530 N/A 12/11/2013 N 3,~~216~~213,~~521~~094.4292 3,~~213~~210,~~094~~183.9235 1112/11/2004 30239483 N/A 01/11/2014 N 3,~~132~~129,~~925~~672.8085 3,~~129~~126,~~672~~931.8515 1201/11/~~2004~~2005 30239477 N/A 12/11/2013 N 2,~~968~~965,~~890~~709.2276 2,~~965~~963,~~709~~002.7610 1201/11/~~2004~~2005 30239446 N/A 02/11/2014 N 2,~~677~~674,~~154~~354.5593 2,~~674~~671,~~354~~987.9340 1201/11/~~2004~~2005 30239460 N/A 03/11/2014 N 2,~~580~~577,~~019~~208.1181 2,~~577~~574,~~208~~796.8168 1201/11/~~2004~~2005 30239501 N/A 12/11/2013 N 2,550,000.00 2,550,000.00 1112/11/2004 30239444 N/A 02/11/2014 N 2,~~518~~514,~~585~~815.0525 2,~~514~~511,~~815~~454.2507 1201/11/~~2004~~2005 30239559 N/A 01/11/2014 N 2,~~426~~423,~~359~~734.4439 2,~~423~~421,~~734~~490.3940 12/11/2004 30239510 N/A 01/11/2009 N 2,~~422~~419,~~805~~845.0862 2,~~419~~417,~~845~~222.6222 1201/11/~~2004~~2005 30239560 N/A 03/11/2014 N 2,~~359~~353,~~204~~747.5276 2,~~353~~348,~~747~~649.7693 12/11/2004 30239548 N/A 02/11/2014 N 2,~~370~~366,~~358~~802.1117 2,~~366~~363,~~802~~629.1783 1201/11/~~2004~~2005 30239461 N/A 03/11/2014 N 2,~~224~~220,~~326~~825.6202 2,~~220~~217,~~825~~660.0276 1201/11/~~2004~~2005 30239465 N/A 03/11/2014 N 2,~~079~~076,~~810~~979.1753 2,~~076~~074,~~979~~519.5364 1201/11/~~2004~~2005 30239488 N/A 01/11/2014 N 2,~~029~~027,~~611~~357.0845 2,~~027~~025,~~357~~414.4565 1112/11/2004 30239482 N/A 01/11/2014 N 1,~~981~~979,~~324~~239.2384 1,~~979~~977,~~239~~474.8490 1201/11/~~2004~~2005 30239459 N/A 03/11/2014 N 1,~~711~~709,~~683~~812.6117 1,~~709~~708,~~812~~203.1794 1201/11/~~2004~~2005 30239452 N/A 03/11/2014 N 1,~~682~~680,~~705~~304.7622 1,~~680~~678,~~304~~188.2214 1201/11/~~2004~~2005 30239450 N/A 02/11/2014 N 1,~~510~~507,~~295~~943.5453 1,~~507~~505,~~943~~825.5349 1201/11/~~2004~~2005 30239525 N/A 12/11/2013 N 1,~~410~~409,~~515~~029.7288 1,~~409~~407,~~029~~772.8820 1112/11/2004 30239457 N/A 02/11/2014 N 1,~~374~~372,~~617~~641.9403 1,~~372~~370,~~641~~897.0324 1201/11/~~2004~~2005 30239526 N/A 02/11/2014 N 1,~~338~~337,~~440~~026.8267 1,~~337~~335,~~026~~826.6748 1112/11/2004 30239472 N/A 12/11/2013 N 1,~~278~~276,~~809~~719.5724 1,~~276~~274,~~719~~818.2410 1201/11/~~2004~~2005 30239527 N/A 01/11/2014 N 1,~~188~~187,~~868~~624.3059 1,~~187~~186,~~624~~573.5956 1112/11/2004 30239456 N/A 02/11/2014 N 1,~~137~~135,~~444~~808.4765 1,~~135~~134,~~808~~365.6573 1201/11/~~2004~~2005 30239528 N/A 02/11/2014 N ~~793,150.11~~ 792,312.09 11791,600.87 12/11/2004 30239454 N/A 02/11/2014 N ~~749~~747,~~072~~995.9466 747,~~995~~045.6642 1201/11/~~2004~~2005 Totals 1,~~230~~229,~~376~~783,~~554~~781.7281 1,229,~~783~~239,~~781~~514.8199

Principal Prepayment Detail No Principal Prepayments this Period

Historical Detail Delinquencies Distribution 30-59 Days 60-89 Days 90 Days or More Date # Balance # Balance # Balance 01/18/2005 0 $0.00 0 $0.00 0 $0.00 12/17/2004 0 $0.00 0 $0.00 0 $0.00 11/18/2004 0 $0.00 0 $0.00 0 $0.00 10/18/2004 1 $30,797,132.96 0 $0.00 0 $0.00 09/17/2004 0 $0.00 0 $0.00 0 $0.00 08/17/2004 0 $0.00 0 $0.00 0 $0.00 07/16/2004 0 $0.00 0 $0.00 0 $0.00 06/17/2004 1 $10,250,000.00 0 $0.00 0 $0.00 05/17/2004 0 $0.00 0 $0.00 0 $0.00 04/16/2004 0 $0.00 0 $0.00 0 $0.00

Distribution Foreclosure REO Modifications Date # Balance # Balance # Balance 01/18/2005 0 $0.00 0 $0.00 0 $0.00 12/17/2004 0 $0.00 0 $0.00 0 $0.00 11/18/2004 0 $0.00 0 $0.00 0 $0.00 10/18/2004 0 $0.00 0 $0.00 0 $0.00 09/17/2004 0 $0.00 0 $0.00 0 $0.00 08/17/2004 0 $0.00 0 $0.00 0 $0.00 07/16/2004 0 $0.00 0 $0.00 0 $0.00 06/17/2004 0 $0.00 0 $0.00 0 $0.00 05/17/2004 0 $0.00 0 $0.00 0 $0.00 04/16/2004 0 $0.00 0 $0.00 0 $0.00

Prepayments Rate and Maturities Distribution Curtailments Payoff Next Weighted Avg. WAM Date # Amount # Amount Coupon Remit 01/18/2005 0 $0.00 0 $0.00 5.333513% 5.294719% 93 12/17/2004 0 $0.00 0 $0.00 5.333714% 5.294916% 94 11/18/2004 0 $0.00 0 $0.00 5.333932% 5.295132% 95 10/18/2004 0 $0.00 0 $0.00 5.334117% 5.295314% 96 09/17/2004 0 $0.00 0 $0.00 5.334333% 5.295527% 97 08/17/2004 0 $0.00 0 $0.00 5.334516% 5.295707% 98 07/16/2004 0 $0.00 0 $0.00 5.334697% 5.295886% 99 06/17/2004 0 $0.00 0 $0.00 5.334910% 5.296095% 100 05/17/2004 0 $0.00 0 $0.00 5.335089% 5.296272% 101 04/16/2004 0 $0.00 0 $0.00 5.335299% 5.296479% 102 Note: Foreclosure and REO Totals are excluded from the delinquencies aging categories.

Delinquency Loan Detail Offering # of Paid Through Current Outstanding Status of Loan Number Document Months Date P & I P & I Mortgage Cross- Delinq. Advances Advances ** Loan (1) Reference 30239557 9 0 12/11/2004 210,058.60 210,058.60 B 30239502 20 0 1112/11/2004 5860,~~956~~931.0040 5860,~~956~~931.0040 B 30239500 26 0 1112/11/2004 4850,~~455~~079.6724 4850,~~455~~079.6724 B 30239549 27 0 1112/11/2004 45,~~492~~493.6052 45,~~492~~493.6052 B 30239523 30 0 1112/11/2004 40,183.2595 40,183.2595 B 30239558 44 0 12/11/2004 23,963.19 23,963.19 B 30239524 57 0 12/11/2004 19,727.70 19,727.70 B 30239530 58 0 1112/11/2004 19,093.6497 19,093.6497 B 30239501 63 0 1112/11/2004 12,~~282~~694.5004 12,~~282~~694.5004 B 30239559 65 0 12/11/2004 14,221.27 14,221.27 B 30239560 67 0 12/11/2004 16,830.61 16,830.61 B 30239488 71 0 1112/11/2004 11,860.4652 11,860.4652 B 30239525 76 0 1112/11/2004 8,426.7690 8,426.7690 B 30239526 78 0 1112/11/2004 7,922.3246 7,922.3246 B 30239527 80 0 1112/11/2004 7,103.8495 7,103.8495 B 30239528 82 0 1112/11/2004 4,694.7179 4,694.7179 B Totals 1116 ~~264~~553,~~471~~286.7511 ~~264~~553,~~471~~286.7511

Resolution Servicing Actual Outstanding Loan Strategy Transfer Foreclosure Principal Servicing Bankruptcy REO Number Code (2) Date Date Balance Advances Date Date 30239557 36,000,000.00 0.00 30239502 12,240,000.00 0.00 30239500 10,060,000.00 0.00 30239549 8,~~162~~152,~~169~~556.1609 0.00 30239523 6,~~833~~826,~~853~~501.7648 0.00 30239558 4,288,043.77 0.00 30239524 3,263,823.19 0.00 30239530 3,~~216~~213,~~521~~094.4292 0.00 30239501 2,550,000.00 0.00 30239559 2,423,734.42 0.00 30239560 2,353,747.76 0.00 30239488 2,~~029~~027,~~611~~357.0946 0.00 30239525 1,~~410~~409,~~515~~029.7187 0.00 30239526 1,~~338~~337,~~440~~026.8267 0.00 30239527 1,~~188~~187,~~868~~624.3059 0.00 30239528 ~~793~~792,~~150~~312.1109 0.00 Totals 4998,~~823~~124,~~130~~852.3731 0.00

Current Outstanding Actual Outstanding P & I P & I Principal Servicing Advances Advances** Balance Advances Totals By Delinquency Code: Total for Status Code = B (1116 loans) ~~264~~553,~~471~~286.7511 ~~264~~553,~~471~~286.7511 4998,~~823~~124,~~130~~852.3731 0.00 (1) Status of Mortgage Loan A - Payment Not Received But Still In Grace Period B - Late Payment But Less Than 1 Month Delinquent 0 - Current 1 - One Month Delinquent 2 - Two Months Delinquent 3 - Three or More Months Delinquent 4 - Assumed Scheduled Payment (Performing Matured Balloon) 7 - Foreclosure 9 - REO (2) Resolution Strategy Code 1 - Modification 2 - Foreclosure 3 - Bankruptcy 4 - Extension 5 - Note Sale 6 - DPO 7 - REO 8 - Resolved 9 - Pending Return to Master Servicer 10 - Deed In Lieu Of Foreclosure 11 - Full Payoff 12 - Reps and Warranties 13 - Other or TBD ** Outstanding P & I Advances include the current period advance.

Specially Serviced Loan Detail - Part 1 No Specially Serviced Loans this Period Specially Serviced Loan Detail - Part 2 No Specially Serviced Loans this Period Modified Loan Detail No Modified Loans Liquidated Loan Detail No Liquidated Loans this Period

Filing Compare · STRUCTURED ASSET SEC CORP LB-UBS COMM MORT TRUST 2004-C2